![Non-fundamental expectations and economic fluctuations: Evidence from professional forecasts [An article from: Journal of Macroeconomics]](https://www.ebooknetworking.net/books/B00/0RR/bigB000RR9FEI.jpg)
Non-fundamental expectations and economic fluctuations: Evidence from professional forecasts [An article from: Journal of Macroeconomics]
Book Details
Author(s)K.M. Choy, K. Leong, A.S. Tay
PublisherElsevier
ISBN / ASINB000RR9FEI
ISBN-13978B000RR9FE5
MarketplaceFrance 🇫🇷
Description
This digital document is a journal article from Journal of Macroeconomics, published by Elsevier in 2006. The article is delivered in HTML format and is available in your Amazon.com Media Library immediately after purchase. You can view it with any web browser.
Description:
It is theoretically possible that non-fundamental idiosyncratic shocks to agents' rational expectations are a source of economic fluctuations. Studies using data on consumer and investor sentiment suggest that this is indeed an important source of fluctuations. We present the results of a study that uses forecasts from professional forecasters to extract non-fundamental shocks to expectations. In contrast to previous studies, we show that non-fundamental expectations are not a significant source of output fluctuations, although such shocks contributed to inflation.
Description:
It is theoretically possible that non-fundamental idiosyncratic shocks to agents' rational expectations are a source of economic fluctuations. Studies using data on consumer and investor sentiment suggest that this is indeed an important source of fluctuations. We present the results of a study that uses forecasts from professional forecasters to extract non-fundamental shocks to expectations. In contrast to previous studies, we show that non-fundamental expectations are not a significant source of output fluctuations, although such shocks contributed to inflation.
